Meta dismisses 11,000 workers globally as company swims in financial hot water

Facebook’s parent company Meta has begun the process of laying off more than 11,000 of its employees globally – the first mass redundancy since the company was founded.

The layoffs account for about 13% of the total headcount, which reached 87,314 at the end of Q3 2022. The company also extended a hiring freeze through Q1.

Meta declined to comment on the cut’s implications in Australia.